JORR tender to start next Monday

The Jakarta Post, Jakarta

The government said on Wednesday it would start the re-tender of the long delayed Jakarta Outer Ring Road (JORR) project on Jan. 21, with five developers expected to bid for the Rp 4 trillion (about US$384 million) worth project.

Minister of Resettlement and Regional Infrastructure Soenarno said of the five developers three were Malaysians, one an Italian and another the local PT Jakarta Propertindo (Jakpro).

He said JORR's former investor, PT Citra Marga Nusapala Persada (CMNP) remains off the bidding participant list.

"FSPC has demanded that none of the old investors are to join the project," Soenarno told reporters, referring to the Financial Sector Policy Committee (FSPC) which groups together senior economic ministers.

The FSPC is in charge of handling major debt restructuring deal worth more than Rp 1 trillion of the Indonesian Bank Restructuring Agency (IBRA).

CMNP defaulted on bank loans to develop JORR, which was then handed over to IBRA in return for the agency taking over the bad loans.

CMNP, linked to former President Soeharto's eldest daughter Siti Hardiyanti Rukmana, has since been banned from joining the project.

Local developer Jakpro is owned by the Jakarta administration.

Based on The Jakarta Post records, the Malaysian bidders were BRD-Hicom Berhad, Road Builder Holdings Berhad, and Ranhill.